Ten most important changes in Income tax which will apply from 1st April 2017 With the passage of the Finance Bill on Wednesday, the Lok Sabha has completed the budgetary exercise for 2017-18. The Income tax proposals in the Budget 2017 have now become law.
APPLICABILITY OF GST LAW ON EDUCATIONAL INSTITUTIONS As per the present Service-tax law, all educational institutions are exempt from service-tax. In this regard, reference can be made to Notification on providing for exemption vide which all schools rendering education from pre-school to higher secondary level, are exempt.
AGRICULTURE UNDER GST – WHETHER TAXABLE The revised model GST law on GST (version-II) defines agriculture and agriculturist. The agriculture under GST is out of scope of GST and agriculturist is not a taxable person.
An Update on foreign investment in India The Foreign Exchange Management Act, 1999 (FEMA) and the Regulations made or directions issued there under may be referred to. The relevant principal regulations are the foreign investment of Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 issued vide Notification […]
Waiting for last minute investments to save tax ? Worst financial mistakes done as investors rush to make tax saving investments. ELSS funds are top of the ranking of best tax saving options earlier this year. However, though financial planners recommend systematic investing, less than 20% of the total inflows into ELSS funds come through […]